5 Entrepreneurial Lessons from Jay-Z

The New York Times recently published an article about the successful partnership between the Brooklyn Nets and hip-hop mogul Jay-Z. Although he only owns 1/15th of 1 percent of the Nets, Jay-Z has leveraged this small percentage of equity into an opportunity to increase his earnings through the indirect income that the Nets franchise can facilitate. With an entertainment career that has lasted over 16 years, Jay-Z has demonstrated incredible staying power and an intuitive acumen possessed only by the shrewdest of businessmen. Based on the brilliance of his career, here are five things Jay-Z can teach us about entrepreneurship.

Get started with your dreams even if you are the only one who believes in yourself

Jay-Z’s mainstream rap career started in 1996 with Reasonable Doubt, arguably his best album. Interestingly, all of the major record labels refused to give Jay-Z a deal, a decision that most probably regret. Instead of continuing to beg for validation like many other artists, Jay-Z started his own record label with Damon Dash and Kareem Biggs. Roc-A-Fella Records was born. While critically acclaimed, Reasonable Doubt only reached 23rd on the Billboard 200 list — far lower than it probably would have, if he had had a major label behind him. However, this start gave Jay-Z the momentum and ownership over his own brand that he needed to achieve future success.